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Wednesday, 15 June 11
INDONESIA NEW COAL POLICY WORRIES INDIA POWER FIRMS - MYDIGITALFC
 Tata Power, Adani group, Lanco Infratech and Reliance Power, among other Indian coal importers, are waiting to assess the impact of the Indonesian government attempts to benchmark its coal prices to international indices. The new system has the potential to increase the cost of thermal power generated using imported coal in India.
The new method that will come into effect from September attempts to link the royalties paid to the Indonesian government to an index of coal prices for Australian and South African coal in addition to others. But Indian firms said Indonesian coal is of lower calorific value and, hence, priced cheaper compared with Australian and South African coal.
Deepak Amitabh, director (corporate finance) of PTC, said there are lots of issues, which still need to be sorted before the coal prices are determined. “We are still not clear how the government will work out the price differentials between Indonesian coal and that produced by Australia or South Africa, for example. Also the spot prices are always costly compared with the long-term sales contracts. We need to find out if the long term contracts for Indonesian coal would be at discount to international market prices or not.”
In September 2010 the Indonesian government issued new regulations to determine the benchmark price for the sale of coal and minerals. The regulation proposes to peg the price for both domestic sales and export of coal to a ‘benchmark price’ for all the mining licensees. Dipesh Dipu, director, consulting (mining) at Deloitte in India said the new regulation will force companies to transact at market prices, which may be seen as raising the cost of delivered coal in India.
“When companies invest in Indonesia, they tend to have the intent to sell coal at cost, so that Indonesian business unit remained at no or negligible profits. Taking a holistic view, however, the cash flows in an integrated Indonesian coal mining and Indian power generation unit after this regulation will continue to be similar, except that income taxes will be paid in Indonesia, and the cash flows will need to be brought on the books on Indian power project after paying taxes in Indonesia through appropriate and innovative business structuring,” said Dipu.
Banmali Agarwala, executive director and head of business development at Tata Power said, “The increased pricing will definitely affect the cost of generation and we are trying to work out a strategy to handle the additional hike.”
Adani group that sources coal from its mines in Indonesia is also expected to be affected by this regulation, as Adani Enterprises has direct stake in Bunyu mines in Indonesia. Adani Power has contracted to procure 4.6 mtpa coal from Adani Enterprises at $36 per tonne. However, the total import requirement for present operational capacities is around 6 mtpa.
Vijaykumar Bupathy, senior analyst with Spark Capital Advisors, said in report that “Assuming a $50 per tonne increase in the free on board (FoB) price of coal, there would be Rs 1,040 crore incremental fuel cost to the group to the extent of the committed 4.6 mtpa of supply alone.” However, when Financial Chronicle contacted Adani Enterprises, the company said there will be no direct impact on the company, since its total cost of mining and transporting Indonesian coal to Mundra is $25 per tonne. The coal is sold to Adani Power at $36 per tonne. “Any hike in price would only increase the royalty payments by around $1 or $2 per tonne. This may have a marginal impact on the company,” said a senior finance official of Adani Enterprises.
Tata Power/BSE Rs 1,249.35 p
NSE Rs 1,249.90 p
Source: mydigitalfc (By Vikas Srivastav)
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Friday, 24 April 15
CHINA IRON ORE MINE CLOSURES TO SLOW ON GOVERNMENT SUPPORT - FITCH
Fitch Ratings expects fewer Chinese iron ore mine closures in 2015 as the government takes steps to support the industry, which has been struggling ...
Friday, 24 April 15
IS INDIA THE 'NEW CHINA' WHEN IT COMES TO THE DRY BULK MARKET? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been feeling the “heat” of China’s slowdown and together with the industry’s own failings, with ove ...
Friday, 24 April 15
GLOBAL STEEL PRODUCTION OUTSIDE OF CHINA CONTINUES TO FARE VERY POORLY - JEFFREY LANDSBERG
COALspot.com: Data released this week showed that global crude steel production totaled approximately 138.05 million tons in March.
Wha ...
Friday, 24 April 15
WEEKLY U.S. COAL PRODUCTION ESTIMATE FALLS 5.7% FROM LAST WEEK
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 17.0 million short ...
Wednesday, 22 April 15
PANAMAX : ATLANTIC HOLDING ON TO THE GAINS OF THE PREVIOUS WEEK; PACIFIC BUSINESS SLID QUIETLY
COALspot.com: The Dry Bulk market managed to close off the week on a positive note last Friday, while as opposed to what we have been used to, it w ...
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- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- The University of Queensland
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Australian Coal Association
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
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